Northwind Group announced that it has provided a $77.2 million first mortgage condo inventory loan through its closed-end debt fund. The loan is collateralized by 167 remaining units at Vesper, a recently completed 41-story residential condominium tower with a full suite of amenities, located in Austin’s Rainey Street District.
Completed in 2024, Vesper was developed through a joint venture between Pearlstone Partners, one of Austin’s leading condominium developers, and ATCO, a New York–based real estate investment and ownership platform led by the Hemmerdinger Family.
Northwind structured the loan with flexible terms, enabling the sponsorship to effectively manage the sales process for the remaining units.
Northwind Group was represented by Polsinelli Law Firm in this transaction.
